MetaOne's Explosive Growth: Leveraging Particle Network’s WaaS
Table of Contents:
TL;DR
- MetaOne positions itself as a one-stop platform for guilds and gamers in the Play-to-Earn metaverse, allowing them to rent NFTs, play, and register as guilds.
- In August 2022, MetaOne integrated Particle Network's wallet SDK, featuring advanced transaction functionalities, embedded wallets, NFT displays, on-ramp capabilities, and more.
- Since integrating Particle Network's wallet SDK in August 2022, MetaOne has seen a 255% increase in user activity, marked by the activation of over 550,000 wallets. This notable growth, particularly in NFT renting and leasing activities, reflects the improved user experience facilitated by Particle Network's wallet SDK.
In our mission to improve Web3’s user experience, we strive to give developers a toolset that they can use to build better, more efficient Web3 interactions. In some cases, like the one we’ll cover today, projects only need an extra push in improving their UX to drastically improve their retention and bounce rates. Some even see explosive growth due to integrating Particle Network’s tools.
Let’s look into MetaOne’s use of Particle’s Wallet-as-a-Service stack by breaking down the complexities they faced and how they Particle Network helped the project address them.
Problem #1: Complexities in Web3 onboarding
Traditional Web3 wallets, like Metamask, often pose challenges for new users. Picture a user excited about a new game's content and gameplay. Upon signing up, they encounter the daunting task of either setting up a wallet for transactions or creating their very first wallet. This process involves multiple steps (such as storing private keys) and interfaces, which can overwhelm those new to Web3 technology.
Solution: Particle Network's instant Web3 wallets
Understanding this hurdle, MetaOne sought to streamline the experience. They integrated a solution simplifying this initial interaction with Web3 elements, choosing Particle Network's Wallet-as-a-Service stack for its user-friendly design and high customizability. This strategic move eliminated the complexities of wallet setup, allowing a smoother transition into MetaOne for players. Particle’s wallets are also embedded directly within dApps, reducing the friction of interacting with them, a critical difference for mobile experiences.
Particle Network’s MPC-TSS Wallet (EOA) Wallet-as-a-Service was a game-changer for MetaOne. Key features of this solution include:
- Instant wallet creation: As soon as users log in through the MetaOne portal, an instant wallet is automatically created for them. This eliminates the need for a separate wallet setup process.
- Enhanced security: MPC-TSS (Multi-Party Computation and Threshold Signature Schemes) technology ensures top-tier security, giving users peace of mind about the safety of their assets.
- In-dApp experience: Users no longer need to navigate outside the app to sign their transactions. The Particle Network wallet is directly embedded within the MetaOne platform, offering a seamless, unified experience.
- NFT visibility: Users can easily view and manage the NFTs they have rented directly within their Particle Network wallet, making it simple to keep track of their digital assets.
Problem #2: Transaction hurdles in NFT interactions
MetaOne users faced significant challenges with transaction costs and complexities, particularly in activities like NFT trading and digital asset management. These issues not only made it more expensive for users to engage but also detracted from the overall enjoyment of the gaming experience.
Solution: Particle Network's simplified transaction process with high customizability & in-depth NFT wallet features
Particle Network tools address these challenges by introducing a simplified transaction process, specifically through our innovative NFT Services For Enterprises. This advancement equips MetaOne with a highly customizable toolkit, enabling them to tailor the wallet experience according to their specific needs. Integral to this solution is our user-friendly API, which provides the essential tools for building and integrating services within the Web3 framework.
Additionally, Particle Network offers embedded wallets, complete with comprehensive NFT features, perfectly equipped to handle the need for efficient management of users’ rented NFTs. This seamless integration enhances platform usability, streamlines NFT transactions, and reduces costs. Consequently, MetaOne users enjoy an enriched gaming experience, benefiting from the robust capabilities and versatility of Particle Network's solutions in the evolving Web3 domain.
Analytics, results, and impact of the integration
MetaOne’s adoption of Particle Network's Wallet-as-a-Service (WaaS) stack in August 2022 led to substantial outcomes, demonstrated by various key performance indicators:
- Increase in wallet activations: Since the integration, over 550,000 Particle wallets have been activated within MetaOne. This figure not only demonstrates the scale of user adoption but also reflects the successful implementation and acceptance of the Particle Network’s wallet system.
- User engagement surge: There was a 255% increase in user activity, particularly in the area of NFT rental and leasing transactions. This remarkable growth in engagement is closely tied to the ease of use and functionality provided by Particle Network’s stack.
- Web3 onboarding efficiency: The onboarding time for new users was reduced by approximately 60%. The seamless integration of Particle Network’s wallet SDK made the onboarding process more intuitive, contributing to the high number of wallet activations and less friction for users.
- NFT transaction increase: MetaOne observed a 70% rise in NFT transactions post-integration. The sophisticated NFT wallet features and customizable toolkit offered by Particle Network played a pivotal role in this enhancement.
- Decrease in customer support queries: The streamlined wallet setup and currency purchase processes resulted in a 50% reduction in customer support queries, a testament to the user-friendly design of the Particle Network wallet.
- Enhancement in Security and Trust: The implementation of MPC-TSS technology in Particle Network's wallets led to a 30% increase in user trust scores, MetaOne reports. This enhancement in security is a crucial factor behind the large number of wallet activations.
- Revenue Uplift: MetaOne experienced a 35% increase in overall revenue following the integration, driven by enhanced user engagement and the ease of transactions.
- Improved User Retention Rates: User retention rates improved by 45%, likely owing to a better overall user experience and the convenience of having an integrated wallet solution.
In conclusion, the integration of Particle Network’s WaaS stack into MetaOne has not only streamlined the user experience of their shop but also significantly bolstered user engagement and financial performance, as evidenced by the massive number of wallets activated and MetaOne’s substantial improvements across various metrics.
Particle Network's Wallet Abstraction solutions are 100% free for developers and teams. By integrating them, you can set your project in a path to leveraging chain abstraction.
About Particle Network
Particle Network powers chain abstraction, addressing Web3's fragmentation of users and liquidity. This is enabled by Particle's Universal Accounts, which give users a unified account and balance across all chains.
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